The first three years of your startup can be crucial and they will affect how successful your startup will be. So, what are the big problems to look out for in the first three years of your startup?

Here’s a list of the big problems that I’ve seen in many startup businesses.

Your startup needs a strong, supportive network to support it.

You need to make sure that your team is working on new projects. And, you need your team to help you promote your business. For example, you might want to ask them to make a presentation at a networking event or industry conference. Another way to get their attention is to have your team go meet with a client’s marketing manager. This shows that you have good relationships with other people in your organization so you’ll have a great chance of building a solid business community.

Your startup’s capital doesn’t quite fit with the size of your staff.

While some teams manage to raise huge amounts of money, some are just too small to get started. That means that your capital could run out before you get the amount of staff you need. If this happens, you’ll have to start from scratch or pay off the team’s fees. Besides, if your company is still small in size, then you’ll need to make a lot of friends within your industry to raise enough money so that your startup can grow.

Your startup’s growth is slow and steady.

When you first start up your company, you might be overwhelmed by all of the tasks you have to accomplish. But, as your business grows, you’ll find it much easier to handle all the things your business is dealing with. As a result, you’ll find that your company grows faster than you expected. If you’re not ready for fast growth, it’s best to slow down your growth.

Problems to envisage in the first three years of your startup. A business coach can help

Growth is slow and steady

Your startup is not set up for success yet.

There are two big reasons for this. First, it’s not enough time to build up a solid business network. Second, you haven’t built a system that allows you to grow properly. Without either of these things, you’ll find that you’ll have a difficult time getting the most successful clients and building your business. If this is your case, then you’ll have to consider outsourcing some of your growth to someone else to achieve more success.

These are just a few things you should look out for in your startup’s first three years and of course, there are others which will become apparent in your journey.

If you would like to understand more about developing products as a start-up or within an organisation, join me on my next training session in Jan 2021.

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